Terra Ventures Inc.

Terra Ventures Inc.

April 27, 2010 11:03 ET

Terra Ventures Inc.: Hathor Intersects 22.5% U3O8 over 12 m at Roughrider East

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2010) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide an update on the Midwest Northeast Uranium property in which Terra owns a 10% production carried interest. In a press release dated April 27, 2010, Hathor reported:

"Hathor Exploration Limited (HAT:TSX-V) is pleased to announce more high grade uranium assays from the first 15 drill holes completed at Roughrider East during the recent 2010 winter drill program on its Midwest Northeast project. Highlights include:

  • MWNE-10-602A: 6.29 % U308 over 5.0 m, starting at 260.5 m depth
  • MWNE-10-604A: 9.15 % U308 over 8.0 m, starting at 289.0 m depth
  • MWNE-10-608: 5.34 % U308 over 15.5 m, starting at 293.5 m depth
  • MWNE-10-609: 3.65 % U308 over 25.5 m, starting at 294.5 m depth
  • MWNE-10-610: 22.5 % U308 over 12.0 m, starting at 286.0 m depth
  • MWNE-10-612: 11.75 % U308 over 19.0 m, starting at 311.0 m depth
  • MWNE-10-613: 1.25 % U308 over 16.0 m, starting at 293.0 m depth

-- All intersections are down hole, core length intervals.

The fence with drill holes 10-610 to 10-615 also contained drill hole 10-607 that intersected 81.5 m of 1.6 % U308, including 13.5 m of 6.1 % U308 (see NR dated 3 March 2010). This fence, Fence 25W, is located 25 m to the west of the Roughrider East discovery drill hole, 09-170, which intersected 28 m of 12.8 % U308 (see NR dated 12 November 2009).

Geochemical data has yet to be received for one other hole on the Fence 25W, drill hole MWNE-10-615, which contained 23 m of anomalous radioactivity within an 81 metre zone of continuously altered rock (see News Release dated March 3, 2010).

Previously released detailed core photographs of uranium mineralization for drill holes 10-608, 10-609, 10-610, and 10-612 reported above are available on the company's website at www.hathor.ca.

Preliminary scintillometer and geological data from the 15 holes reported herein were released on February 25, March 3, and March 5, 2010. Table 1 below provides complete geochemical assay composites for all mineralized holes in the drill hole series 10-600C to 10-613. Drill holes MWNE-10-601, MWNE-10-605, MWNE-10-606, MWNE-10-614 did not contain any anomalous radioactivity.

Figure 1 is a plan map which shows the 400 m strike length potential of the Roughrider uranium deposit and the Roughrider East discovery. Figure 2 is a detailed plan map which shows the location of all drill holes completed at Roughrider East. Figure 3 is a detailed plan map with composite assay results for holes received to date. Figure 4 is a cross section of the fence which contains drill holes 10-608 to 10-613 reported above.

Assays have yet to be received for 61 of the 77 holes completed during the 2010 winter program. Planning for the upcoming summer drill season will be finalized once all data are received and interpreted.

Terra Ventures Inc. owns a 10-per-cent interest, carried until a decision is made to go to production, in the Midwest NorthEast property.

Alistair McCready, Ph.D., P.Geo., Hathor's Exploration Manager with responsibility for all of Hathor's exploration in Saskatchewan, and Michael Gunning, Ph.D., P.Geo, Hathor's Chief Operating Officer, are Qualified Persons as defined by National Instrument 43-101 and have reviewed and approved the technical disclosure contained in this news release."

Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability – are the foundation for growth in the uranium business.

On behalf of the board of directors of TERRA VENTURES INC.

Gunther Roehlig, President

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Terra Ventures Inc.
    Ryan Johnson
    Investor Relations
    Toll Free: 1-866-683-0911 or 1-604-683-0911
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